State bond sales eyed for road projects, including Goldent Glades improvement
TALLAHASSEE - Gov. Ron DeSantis and the state Cabinet next week will consider bond sales totaling $630.2 million that, in part, would help a Miami-Dade County transportation project under a program known as Moving Florida Forward.
DeSantis and Cabinet members will consider selling $430 million in Department of Transportation Turnpike Revenue Bonds and $200 million in Turnpike Revenue Refunding Bonds. Proceeds would go to various turnpike system projects, including improvements to the Golden Glades interchange in Miami-Dade.
The bonds would be repaid through tolls and other turnpike revenues.
"This is leveraging the financing power of the turnpike to continue the Moving Florida Forward program, particularly I believe the Golden Glade interchange, which will basically act as a direct connect for all the commuters in Miami-Dade County on all the roads, right there on the way to Miami Beach," Cody Farrill, DeSantis' Cabinet affairs director. "I'm excited about that one."
Carrying a $150 million price tag, the Golden Glades project would link the turnpike with Interstate 95, the Palmetto Expressway, State Road 9, and State Road 7.
Introduced by DeSantis in January 2023, Moving Florida Forward is a $7 billion, four-year plan designed to speed up a series of transportation projects across the state. The plan drew $4 billion from the general revenue surplus in the current fiscal year and the remaining $3 billion was slated to be financed.
A proposed budget for the 2024-2025 fiscal year includes $881.45 million for the plan from the State Transportation Trust Fund. The proposed budget, approved March 8 by the Legislature, has not formally been sent to DeSantis.